About The Role
The Asset Manager plays a pivotal role in the Asset Management Department, focusing on enhancing the long-term value of real estate properties through strategies aimed at revenue growth, operating expense control, capital deployment, debt management, and risk management. The Department's mission is to successfully lead all components that affect the creation of value on a portfolio of real estate assets and tactically direct each component in synchronization to deliver the best possible near, mid-, and long-term outcomes for the owners. The Asset Manager will implement this mission while strictly adhering to the company’s Core Values, ensuring optimal performance and value creation for the portfolio.
Duties And Responsibilities
Asset Management:
- Lead post-closing acquisition meetings and one-year PAR reviews, comparing results to the original underwriting.
- Prepare quarterly reforecasts on a rolling 12-month basis and assist Treasury with cash forecasting.
- Prepare capital calls.
- Continuously monitor financial performance and develop strategic recommendations to maximize the financial return of each asset.
- Periodically evaluate and analyze the company’s real estate holdings to identify underperforming assets and recommend alternatives to ownership.
- Maintain NAV/GAV schedules for all assets in your portfolio.
- Prepare executive summary packages for all assets in your portfolio.
- Support the Investor Relations Department with information and forecasting.
- Analyze and summarize all property budgets during the budget process, with an emphasis on multi-year NOI variances.
- Review and finalize property capital budgets annually, including building and tenant improvements, and lease commissions.
- Monitor debt compliance as it relates to leases, capital improvements, reporting, and DSCR triggers.
- Support efforts to maintain the REO schedule.
Marketing and Leasing:
- Provide insight and leadership in the development of marketing plans.
- Lead the transaction team (internal or external) through effective motivation and accountability.
- Provide direction and decision-making for all new and renewal lease deals, considering all relevant variables to meet the departmental mission statement.
- Prepare lease analyses for key business and legal terms.
- Negotiate lease terms as needed.
- Prepare lease packages for ownership approval.
- Finalize and approve all lease assumptions for each asset in your portfolio.
Property and Project Management:
- Provide insight and leadership in the development of property operating budgets.
- Lead property and project management teams (internal or external) through effective motivation and accountability.
- Provide direction and decision-making for capital and operational endeavors, considering all relevant variables to meet the departmental mission statement.
- Negotiate and finalize all service provider leasing and management agreements.
- Monitor and provide direction for all accounts receivable issues.
- Review monthly operating statements and variance reports.
- Review and approve CAM calculations provided by the service provider.
Miscellaneous Duties
- Perform other duties as assigned.
Supervisory Responsibilities
- This position supervises and directs the activities of Asset Management Analyst(s) while also providing guidance to junior analysts or interns. This position works collaboratively with other departments to ensure seamless integration of tasks and responsibilities.
Skills
Teamwork and Leadership:
- Proven track record in leading and managing teams.
- Ability to work as part of a team, including coordination with internal and external clients.
Communication:
- Ability to convey information and ideas clearly.
- Excellent written and oral communication skills.
- Ability to analyze and communicate key financial information and investment recommendations to principals.
- Effective at listening to, understanding, and clarifying the concerns and issues raised by co-workers and customers.
Technical Proficiency:
- Advanced level of Microsoft Excel.
- Ability to learn specialized real estate software (fluency in Argus is a plus).
Analytical and Problem-Solving:
- Strong work ethic, organizational skills, and excellent problem-solving skills.
- Ability to process work quickly, accurately, and with changing priorities.
- Ability to assimilate complex information and data from various sources and adjust or modify to meet specific needs.
- Proactive nature with demonstrated ability to multi-task.
- Must be thoughtfully decisive and use knowledge and experience to anticipate future needs.
- Effective in handling problems in the workplace, including anticipating, preventing, identifying, and solving problems as necessary.
Personal Attributes:
- High initiative, superior energy level, and drive for achievement.
- Committed, driven, and hungry for success.
- Must be inquisitive, a great listener, and self-reliant.
- Must maintain a professional demeanor in all situations.
- Embraces and practices Company Core Values.
Education And Experience
- Bachelor’s Degree in Business, Finance, or equivalent; Master’s in Business Administration (MBA) is preferred.
- 7+ years of commercial real estate experience required.
- Substantial knowledge and experience in structuring transactions, real estate and financial market analysis, and capital planning.
- Strong financial and analytical skills, including underwriting and financial modeling.
- Ability to analyze and interpret complex term sheets, financing documents, lease agreements, and Joint Venture documents.
- Understanding of real estate valuation methodologies.
- Ability to interpret and present operating statements, balance sheets, and cash flow statements.
- Experience with MRI software is a plus.
Physical Demands and Work Environment
- This role primarily operates in a professional office environment and routinely uses standard office equipment such as computers, phones, photocopiers, and filing cabinets.
- Ability to travel as needed. The position may occasionally require the employee to work outside the office, visiting properties or attending meetings with external stakeholders.
- While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to stand; walk; use hands to finger, handle or feel; and reach with hands and arms. Must be able to lift, carry, or push/pull up to (15) pounds.
- This is a full-time position. Days and hours of work are Monday through Friday, 8:00am to 5pm. This position may require longer hours and occasional weekend work as job duties demand.
At Weston, Inc., we foster a dynamic and collaborative work environment where everyone is valued and respected. We are committed to diversity and inclusion, ensuring equal opportunities for all employees. Discrimination or harassment based on race, color, sex, religion, sexual orientation, national origin, disability, genetic information, pregnancy, or any other protected characteristic is strictly prohibited by federal, state, and local laws.
This extends to all aspects of employment, including hiring, recruitment, promotion, termination, layoff, recall, leave of absence, compensation, benefits, training, and apprenticeship. Our hiring decisions are based solely on qualifications, merit, and business needs at the time.
